PRE MARKET
Fake jobs number out better than expected. Rate down to 4.4%.
Futures up a bit led by the big cap tech/internet.
Gaps to upside: OLED, MELI, LOGM, SWIR, WING, AAOI.
Downside: IBM down another $6 as Buffett sells. We have been negative on their accounting forever.
We will have comments on the Republican healthcare bill over the weekend. Just keep in mind, it now goes to the senate where it will be carved up. Just realize we are of the belief Obamacare was more of a tax bill than a healthcare bill. It was a massive transfer of wealth and a massive lie. Just watch this: https://www.youtube.com/watch?v=G790p0LcgbI
And in case you did not know, here are the taxed Obamacare initiated that will more than likely be rolled back:
-Abolishes the Obamacare Individual Mandate Tax which hits 8 million Americans each year.
-Abolishes the Obamacare Employer Mandate Tax. Together with repeal of the Individual Mandate Tax repeal this is a $270 billion tax cut.
-Abolishes Obamacare’s Medicine Cabinet Tax which hits 20 million Americans with Health Savings Accounts and 30 million Americans with Flexible Spending Accounts. This is a $6 billion tax cut.
-Abolishes Obamacare’s Flexible Spending Account tax on 30 million Americans. This is a $20 billion tax cut.
-Abolishes Obamacare’s Chronic Care Tax on 10 million Americans with high out of pocket medical expenses. This is a $126 billion tax cut.
-Abolishes Obamacare’s HSA withdrawal tax. This is a $100 million tax cut.
-Abolishes Obamacare’s 10% excise tax on small businesses with indoor tanning services. This is a $600 million tax cut.
-Abolishes the Obamacare health insurance tax. This is a $145 billion tax cut.
-Abolishes the Obamacare 3.8% surtax on investment income. This is a $172 billion tax cut.
-Abolishes the Obamacare medical device tax. This is a $20 billion tax cut.
-Abolishes the Obamacare tax on prescription medicine. This is a $28 billion tax cut.
-Abolishes the Obamacare tax on retiree prescription drug coverage. This is a $2 billion tax cut.